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Gabon presents COVID 19 recovery plan to IMF/ World Bank officials

The Minister of Economy represented Gabon at the 2020 African Caucus, which took place on August 6 in Yaoundé. During this meeting, at which the International Monetary Fund and the World Bank were represented, Jean-Marie Ogandaga presented the actions undertaken in Gabon as part of the response against Covid-19.

The African Caucus meeting took place on August 6 in Yaoundé, Cameroon, under the theme “Protecting Africa’s human capital in the face of Covid-19: saving lives, preserving the well-being and safeguarding productivity as well as jobs ”. Having taken part in this meeting on behalf of Gabon, the Minister of the Economy presented the actions taken as part of the response against Covid-19. According to Jean-Marie Ogandaga, this includes preventive measures as well as health, social and economic efforts.

The African Caucus is a platform for dialogue between the finance ministers of African countries that allows them to express their economic and financial concerns to the main officials of the Bretton Woods institutions (the Managing Director of the IMF and the President of the Bank world). Specifically, the discussions helped define the vision and ambition for Africa to build and strengthen resilience to future shocks, as the region recovers from the Covid-19 pandemic.

At the end of the discussions, the consensual memorandum adopted by the African governors of the IMF and the World Bank highlighted an improvement in external aid and the effectiveness of aid during the Covid-19 pandemic, an increase in the provision of services in the social fields; consolidation of macro-fiscal policies and governance, by offering targeted assistance in the development of institutional policies.

This document also validates public debt management, capacity building and digital technology, as well as strengthening the promotion of the private sector for the benefit of growth and employment.